My wife and I aren't strangers to real estate, but we've learned through some mistakes and have only scratched the surface.

I think, given my knowledge of prices from contractors around here and such, we could redo the pool, re-roof the clubhouse, and re-surface the tennis court and still have 33% of our reserves remaining, and I don't really think we have any other CapEx to be concerned with.

On the BARE surface, and because I would ideally be looking for a CAP of 10 or better, my starting offering price would be around $246,000 and may event take another 8% to 10% off that to get the negotiations started.

No skin off our back!

That's the only area you should consider investing in.4 - Ask yourself, "Do I have a thick skin?"

Basic service may include mowing, weed eating, edging, blowing off hard surfaces, and maybe roundup (weed control) application.  

I've seen people flip with only other people's money, no skin in the game, but have the correct setup (contractors, wholesalers, bird dogs, agents), so i won't believe anyone who tells me that it is impossible especially in your case that you have the cash, credit, and spanish resources (aka desperate contractors).

Regardless, I don't mind making tenants have skin in the game with their own insurance.

With a down turn they just walked away as had little skin in the game compared to their net worth and did not want to ongoing pay property taxes and holding costs so gave keys back to the lender.Today the cities,counties, and lenders all remembered what happened last time.

It doesn't happen overnight, you gotta "get some skin in the game".